Surge in Rich Chinese Who â€˜Investâ€™ in U.S. Citizenship.

Despite all the talk of class warfare and punishing success, the U.S. remains a highly desirable place for the worldâ€™s rich. Especially for the rich Chinese.

According to data from the Immigration Service, thousands of wealthy Chinese have applied for the EB-5 Visa, also known as the â€œgreen-card-for-moneyâ€ program.

Under the program, foreign investors must finance commercial projects in the U.S. by investing either $500,000 or $1 million and create at least 10 full-time jobs. The investors have to undergo a background check, identify the source of their wealth and create and sustain 10 full-time jobs. The investors and their families can get citizenship after five years if they fulfill the requirements.

Lots of rich people around the world apply. But the Chinese have become far and away the biggest users and beneficiaries.

In 2011, 2,969 Chinese citizens applied for the program and 934 were approved, according to the Immigration Service. (Approval doesnâ€™t mean they get citizenship, it just means they can start the program). Their numbers represented more than three quarters of the total number of applicants and approvals.

Itâ€™s also a huge increase from previous years. In 2007, only 270 Chinese citizens applied and only 161 were approved, accounting for only about a third of the totals.

Why the huge increase?

The obvious reason is that China has a lot more millionaires and billionaires.

But the other reason is that these newly rich want out â€“ or at least an escape hatch and presence in another country in case they have to flee.

A recent survey from the Bank of China and wealth researcher Hurun Report found that more than half of Chinaâ€™s millionaires are either considering emigrating or have already taken steps to do so.

The survey found that the most common reason cited by respondents for emigrating was their childrenâ€™s education, followed by a desire for better medical treatment and the fear of pollution in China.

The top destination among those emigrating was the U.S., accounting for 40%, followed by Canada with 37%, Singapore with 14% and Europe with 11%, the survey showed.

The EB-5 program has stirred controversy for years, with some saying itâ€™s brought welcome investment, and others saying itâ€™â€™s a mercenary citizenship program that does little for actual employment.

Chinese immigrants in the US are quite seditious... I would hope US denies this practice to them.

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Then for the same token US should deny and deport racist people like you. At least they bring wealth to US, what did you bring? Racist propaganda and groundless accusation. When you become US permanent resident, one deal breaking condition is not being racist to against another group of people based on your personal ideology. You have made numerous accusation such as Chinese in US are all spies in the past. You should feel shame.

Then for the same token US should deny and deport racist people like you. At least they bring wealth to US, what did you bring? Racist propaganda and groundless accusation. When you become US permanent resident, one deal breaking condition is not being racist to against another group of people based on your personal ideology. You have made numerous accusation such as Chinese in US are all spies in the past. You should feel shame.

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I only go by what 99.999% of chinese americans say about the US, wish it ill and are always promoting anti US propoganda . and my opinion is based on that and not their race ...

does this program provides dual citizenship for emigrants or they are entitled to only US citizenship after 5 years????

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I don't think chinese are allowed dual citizenship,,, infact only some countries are allowed that status with the US... i'll have to check

Update:

A U.S. citizen may acquire foreign citizenship by marriage, or a person naturalized as a U.S. citizen may not lose the citizenship of the country of birth.U.S. law does not mention dual nationality or require a person to choose one citizenship or another. Also, a person who is automatically granted another citizenship does not risk losing U.S. citizenship. However, a person who acquires a foreign citizenship by applying for it may lose U.S. citizenship. In order to lose U.S. citizenship, the law requires that the person must apply for the foreign citizenship voluntarily, by free choice, and with the intention to give up U.S. citizenship.

I only go by what 99.999% of chinese americans say about the US, wish it ill and are always promoting anti US propoganda . and my opinion is based on that and not their race ...

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I seriously doubt you have met or talked with 99.999% American Chinese which is about 3~4 million in American population. I'm sure former secretary of commerce Garry Loke, labor secretary Julia Cho and current Energy secretary Steven Chu are among that 99.999%

Half of the Chinese in U.S. living there for 1-2 centuries. They went their for various construction work like Rail road, etc. They are more American than Chinese. But they mostly live in concentrated areas of China town. 8)

I think we have plenty of threads talking about Chinese emigrating to Western countries, why start a new one?

This is the second wave of emigration since the foundation of PRC, the first one took place in the 1980s right after China opened up. China is too crowded to live in, life is tough, pressure is intense, anyone has the money and means should move out of China and find a better life.

I seriously doubt you have met or talked with 99.999% American Chinese which is about 3~4 million in American population. I'm sure former secretary of commerce Garry Loke and current Energy secretary Steven Chu are among that 99.999%

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you are correct I have not- BUT I do base my opinion on those I have met and 99.999% of them being seditious pricks. call it my scientific polling ...